Business
Exodus & Company inks US$141m deal with Afreximbank – NewsDay
The signing of the construction-works term sheet was done Saturday on the sidelines of the Intra-African Trade Fair (IATF2023).
Exodus & Company (E&C) has signed a US$141m deal with Afreximbank which will oil the infrastructure group’s plans to execute its projects on the continent.
The signing of the construction-works term sheet was done Saturday on the sidelines of the Intra-African Trade Fair (IATF2023).
The seven-year facility will also benefit other downstream industries on the continent.
“This strategic partnership with Afreximbank represents a significant milestone for E&C, confidence and support by several stakeholders in the firm’s commitment to delivering high-quality – and impact – infrastructural projects, which can contribute to the socio-economic development of Africa,” CEO Progress Mambo said.
“Additionally, this tie-up underscores our shared vision of fostering economic growth and advancement of the markets we operate in,” he said, adding the “company was grateful for the trust financiers had bestowed in it”.
The agreement terms reflect the mutual understanding, commitment to Africa’s sustainable development and eagerness to leverage on this capital to execute the partners’ mutual plans, and benefits as well as objectives, the company said, pledging to “upholding the highest corporate governance and social responsibility standards”.
“With this financing, we are poised to continue making significant contributions to the infrastructure landscape in Africa, while adhering to our principles of ethical business practices and environmental stewardship,” company chairman Exodus Makumbe said.
“As we swiftly move to formalise and conclude this ground-breaking agreement, we will ensure the successful deployment of resources to expanding our projects and also contribute to the broader economic progression, and prosperity of the African continent.”
The US$141m deal takes Zimbabwe’s haul of trade and investment deals to US$181m at IATF2023. This is US$7m shy of the US$188m deals signed by Zimbabwean companies at IATF2021, three days into the third edition of the fair which ends on November 15.
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FlyNamibia adds Zimbabwe route
FlyNamibia has announced it will, from April next year, launch flights between Windhoek and Victoria Falls to operate on Tuesdays, Thursdays, and Saturdays between Hosea Kutako International Airport and Victoria Falls International Airport.
The new route is a key element in Zimbabwe’s regional network expansion strategy, FlyNamibia managing director Andre Compion said.
It will also enhance regional connectivity, promote tourism within Namibia and position Windhoek as an alternative gateway to the region.
FlyNamibia’s partnership with Airlink will give it access to the GDS, which will allow it to promote its new flights and packages to markets that were previously beyond reach. The airline is also planning to unveil new routes to Botswana and Angola in the future.
The new flights will effectively more than triple FlyNamibia’s current schedule of regional flights. Compion also revealed that the airline was entering the final phase of preparations for the introduction of flights to Luanda, Angola.
FlyNamibia is a Namibian private airline that mostly plies domestic routes from Eros Airport in Windhoek to Ondangwa, Rundu, Katima Mulilo, Lüderitz, and Oranjemund.
The airline also has a regional route between Hosea Kutako International Airport and Cape Town International Airport. The airline recently became a member of IATA.
This membership will give FlyNamibia access to a number of benefits, including global recognition and acceptance, access to IATA’s global network of airlines and travel agents, and support with marketing and sales.— Business Weekly
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Breaking news – Chronicle
FlyNamibia adds Zimbabwe route
FlyNamibia has announced it will, from April next year, launch flights between Windhoek and Victoria Falls to operate on Tuesdays, Thursdays, and Saturdays between Hosea Kutako International Airport and Victoria Falls International Airport.
The new route is a key element in Zimbabwe’s regional network expansion strategy, FlyNamibia managing director Andre Compion said.
It will also enhance regional connectivity, promote tourism within Namibia and position Windhoek as an alternative gateway to the region.
FlyNamibia’s partnership with Airlink will give it access to the GDS, which will allow it to promote its new flights and packages to markets that were previously beyond reach. The airline is also planning to unveil new routes to Botswana and Angola in the future.
The new flights will effectively more than triple FlyNamibia’s current schedule of regional flights. Compion also revealed that the airline was entering the final phase of preparations for the introduction of flights to Luanda, Angola.
FlyNamibia is a Namibian private airline that mostly plies domestic routes from Eros Airport in Windhoek to Ondangwa, Rundu, Katima Mulilo, Lüderitz, and Oranjemund.
The airline also has a regional route between Hosea Kutako International Airport and Cape Town International Airport. The airline recently became a member of IATA.
This membership will give FlyNamibia access to a number of benefits, including global recognition and acceptance, access to IATA’s global network of airlines and travel agents, and support with marketing and sales.— Business Weekly
Business
Breaking news – Chronicle
Vice President Mohadi officially opens the Zimbabwe Institute of Strategic Thinkers Annual Conference
Mthabisi Tshuma, Online Writer
VICE President Kembo Mohadi has officially opened the 2023 Zimbabwe Institute of Strategic Thinkers Annual Conference at a local resort in Nyanga.
The event is being attended by Manicaland Provincial Affairs and Devolution Minister Advocate Misheck Mugadza, Deputy Minister of Industry and Commerce Roy Bhila, Deputy Minister of ICT, Postal and Courier Services Dingumuzi Phuti, Zimbabwe Institute of Strategic Thinkers Annual Conference leadership and players from various business sectors.
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